FORVIS Wealth Advisors LLC Purchases 199 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

FORVIS Wealth Advisors LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,883 shares of the wireless technology company’s stock after acquiring an additional 199 shares during the period. FORVIS Wealth Advisors LLC’s holdings in QUALCOMM were worth $488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Morgan Stanley boosted its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after purchasing an additional 438,660 shares during the period. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $2,507,978,000. Finally, Putnam Investments LLC raised its holdings in QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after buying an additional 263,482 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the transaction, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders have sold a total of 42,185 shares of company stock worth $7,936,005 over the last quarter. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on QCOM. HSBC boosted their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Morgan Stanley upped their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Piper Sandler increased their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Citigroup boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Wolfe Research raised their price target on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Stock Up 0.4 %

Shares of QCOM stock traded up $0.77 during trading hours on Friday, reaching $204.58. 634,270 shares of the company’s stock were exchanged, compared to its average volume of 9,219,331. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a market cap of $228.31 billion, a PE ratio of 27.39, a PEG ratio of 2.48 and a beta of 1.27. The stock’s fifty day moving average price is $199.01 and its two-hundred day moving average price is $170.94.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Research analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.66%. QUALCOMM’s payout ratio is 45.70%.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.